Brought to you by: Karen Majalian - RE/MAX Unlimited
Phone: (617) 869-0206 Fax: (617) 890-4303
Website: www.KarenMajalian.com
Email: kmajalianre@gmail.com
 

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Prepared for : Dec-16-2018 10:48:19 am
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87-89 Broad St
Lynn, MA. 01902-5003

Essex County
Directions: Right To Ocean St., Left Atlantic Street, Turn Left On Broad Street

MLS # 72282211 - Expired
Multi-Family 5-9 Family   Grey

List Price $1,500,000 Days on Market  
List Date   # Units 5
Sale Price   # Floors  
Sold Date   Rooms 34
Assessed Value $9,999,999 Bedrooms 17
Gross Living Area 7,967SF Full Baths 10
Lot Size 7,967SF Half Baths 0
Taxes $12,500.00 Fireplaces  
Tax Year 2017 Basement Yes
Zoning RS Waterfront No
Est. Street Front   Beach Nearby No
Year Built 1920 Parking Spaces 10
    Garage Spaces 0
Remarks:
INVESTMENT OPPORTUNITY, 7% Cap Rate!! Perfect for 1031 exchange or live rent free. Spacious Two separate multi family buildings on 1 parcel (Two Family is in the front and Three Family is in the back). Newly Built. each unit consists of 4 bed and 2 bath, living room, dining area approx 1900 sqft each, washer dryer in unit. Central A/C Three Family: each unit consists of 3 bedrooms and 2 full bath, updated kitchen, Granite Countertop, dining room, living room, last updated in 2010, approx 1150 sqft, laundry in the basement, newer roof, approx 8 year old. Off street parking for 10 cars (no blocking) plus opportunity to create additional parkings. All units are rented TAW Each unit has been condomized (Condominium documents completed).
Features
Amenities   Public
   Transportation,
   Shopping, Park,
   Walk/Jog Trails, Medical
   Facility, Laundromat,
   Highway Access, House of
   Worship, Public School,
   T-Station, University
Basement   Full
Cooling Zones   2
Electricity   220 Volts
Exterior   Clapboard,
   Shingles
Exterior Feat.   Porch,
   Patio
Flooring   Wood
Foundation   Poured
   Concrete
Heating Zones   5
Hot Water   Natural Gas
Lead Paint   Certified
   Treated, Unknown
Lot   Wooded, Paved Drive
Parking   Off-Street
Road   Private, Paved
Roof   Asphalt/Fiberglass
   Shingles, Rubber
Sewer / Water   City/Town
   Sewer, City/Town Water
Utility Connections   for
   Gas Range
Units
Common Features Rooms: Laundry; Heating: Gas, Other (See Remarks)
Unit 1 Bedrooms: 4; Floor: 1; Full Baths: 2; Lease: Yes; Levels: 1; Rooms: 8
Unit 2 Bedrooms: 4; Floor: 2; Full Baths: 2; Lease: Yes; Levels: 2; Rooms: 8
Unit 3 Bedrooms: 3; Floor: 1; Full Baths: 2; Lease: Yes; Rooms: 6
Unit 4 Bedrooms: 3; Floor: 2; Full Baths: 2; Lease: Yes; Levels: 2; Rooms: 6
Financial Info
Electricity   $400
Expenses Source   Owner
   Provided, Other (See
   Remarks)
Expenses Year End   12/17
Gross Expenses   $10,900
Gross Oper. Income  
   $103,200
Insurance   $5,000
Net Oper. Income   $92,300
Water   $5,500
Additional Information
APOD Available?   Yes
Adult Community   No
Deed   Cert. #: 5
Disclosures   Serious
   buyers only. No open
   houses. Please don't
   disturb the Tenants. Need
   to show proof of funds to
   schedule a showing. Must
   get 24 hour notice before
   showing. All units are
   currently occupied.
Foreclosure   No
GLA Source   Public Record
Living Area Disclosures  
   All units has living and
   dinning room, Total BR
   17 & 10 Full Bathrooms,
   most of the units has W/D
Off Market Date   6/30/18
Schools   Grade School:
   Harrington, Middle
   School: Marshall Middle,
   High School: Classical
   High
Seller Disclosure Doc  
   Yes
Short Sale   No
Year Built Desc.   Actual
Year Built Source   Public
   Record

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Property Last Updated by Listing Office: 7/1/18 3:08am

Courtesy: MLSPIN

Listing Office: RE/MAX Unlimited Listing Agent: Basema Shalhoub


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